Mark Harvey’s Post

Has your current acquirer switched your business to net settlement? Net settlement getting you down? You aren’t the only one. Lots of businesses that accept payments find receiving funds by net settlement prolongs end-of-day reconciliation as payments simply don’t match up. But there is an easier way. Please contact me via email : elisabeth.wilson@globalpay.com and let’s chat about why lots of our customers love gross settlement or read our blog https://lnkd.in/eYRYY_pd   #payments #settlement Jen T. Sarah Quigley

New analysis by FreeAgent has found that late payments in the UK have increased by 49.3%, with the average late payment rate now higher than it was during the same period the previous year (43% in 2022-2023). Late payments are also higher than it was during the 2020 calendar year (46%), which suggests that the issue is becoming a more prevalent problem for small business owners in the post-Covid and cost-of-living crisis era. Analysis of invoices sent by FreeAgent’s small business customers between June 2023 and June 2024 has found that (62.4%) of invoices in Northern Ireland’s SME sector were paid late – the worst affected country in the UK. This is up from 55% the previous year. Looking at the national picture, three in five invoices sent by small businesses in Northern Ireland in the past year were paid late – up by 55% from the previous year. Wales (48%) and Scotland (48.5%) have the lowest rates of late payment, closely followed by England (49.3%).  Contact us to find out how Local Loop Merseyside is helping with the issue of #Latepayment across #Liverpool and #Merseyside with a financial technology platform that is owned and managed by the people who use it (that's You!) Tom Woodroof Sam Gent David Matthews Stephen Murray Ronan Murphy Tim Gregory Dil Green https://lnkd.in/ev8ecJfZ

Are you a #creditcard issuer with questions about managing your program in 2024? This webinar is for you! Learn more about how to balance risk while growing your program. #payments #creditcard #webinar https://lnkd.in/gugabCBM

Shoppers who use Buy Now, Pay Later (BNPL) loans are to get new safeguards against unaffordable borrowing and credit card-style protection for their purchases, under rules outlined by the Government. CreditConnect has recently published an interesting article which outlines this further. Click the link below to read now. #buynowpaylater #creditconnect #financialnews https://bit.ly/4f0euKG

An influential group of MPs has urged the City watchdog to force banks to be more transparent on why they “debank” businesses amid criticism that regulators and lenders are hamstringing growth and innovation among small firms. In a report on its inquiry into the barriers small and medium-sized enterprises (SMEs) face to accessing finance, the Treasury Committee called on the Financial Conduct Authority (FCA) to compel lenders to send them the number of business accounts they close each quarter, split by reason. It cited evidence from eight major banks showing they closed 142,000 UK small business accounts last year. Banking trade body UK Finance said closures affect a small proportion of business accounts and are mainly due to a lack of information sharing, dormant accounts and financial crime concerns. However, MPs argued that many banks do not seem to be formally tracking whether the reputation of a firm or sector was considered when closing an account, instead using “catch-all terms” to explain their reasoning. ✍️ Lars Mucklejohn Read the full story here 👇 https://lnkd.in/eW9kaFsC

The Credit Card industry can be complex and challenging, join Elan on May 8 at 2:00 pm ET to learn more about the impacts of inflation and interest rates on credit card revenue & expenses.

On 12 March 2024, the Australian Government released exposure draft legislation on Buy Now, Pay Later products (BNPLs) for public consultation. Read more on how this will impact your business. #buynowpaylater #fintech #reform #lawreform

On 12 March 2024, the Australian Government released exposure draft legislation on Buy Now, Pay Later products (BNPLs) for public consultation. Read more on how this may impact your business. #buynowpaylater #fintech #reform #lawreform

On 12 March 2023, the Australian Government released exposure draft legislation on Buy Now, Pay Later products (BNPLs) for public consultation. Read more on how this will impact your business. #buynowpaylater #fintech #reform #lawreform

The Credit Card Competition Act of 2023 (“CCCA”) is proposed legislation that would "amend the Electronic Fund Transfer Act to require the Board of Governors of the Federal Reserve system to prescribe regulations relating to network competition in credit card transactions, and for other purposes." In this CPI Column, authors Ling Ling Ang, Alan Grant & Peter Traber (NERA) analyzes the proposed legislation and seek to ground the policy conversation with economic tools and reasoning... #antitrust #antitrustlaw #competitionlaw #canada #electronictransfer #legislation #creditcards #business